Leased Flex Space with Fenced
For Sale
$375,000
62987 NE Plateau Drive #STE 4, Bend, OR 97701
Steel construction, office buildout, and a dedicated rear yard support industrial operations.
Property Size1,500 SF
Days on Market111
Property Features for 62987 NE Plateau Drive #STE 4
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Zoning
IL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$2,634
Amenities
fenced yard area
office buildout
Building Details
Building Size
1,500 SF
Year Built
1999
Stories
1
Units
1
Construction
steel
Tenancy
Single
Listing Agency:
Compass Commercial Real Estate
(541) 383-2444
Listed By:
Patrick Kesgard
(541) 383-2444
Source:
Allprofessionalsre
Added: May 12
Changed: Aug 29
Last Checked: Jul 23 at 3:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Commercial Real Estate
Investment Insights
Based on property information with market context.
This leased flex-space condominium combines an office buildout with dedicated yard area behind the unit. The property features steel construction, metal roof and siding, and a newer Reznor gas header. A fenced yard adds secured outdoor functionality for industrial operations.
The unit is part of North Brinson Business Park at 62987 NE Plateau Drive, STE 4, in Bend, Oregon. The established tenant has occupied the space for 8 years, with renewal provisions that include additional option periods.
The unit is part of North Brinson Business Park at 62987 NE Plateau Drive, STE 4, in Bend, Oregon. The established tenant has occupied the space for 8 years, with renewal provisions that include additional option periods.
Key Highlights
- Leased industrial condo in North Brinson Business Park
- Tenant occupancy for 8 years with additional renewal option periods
- Fenced yard area located behind the unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,541
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,820
$430.8K
Cap Rate 7%
$307,729
$307.7K
Cap Rate 9%
$239,344
$239.3K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.6K $20.40/SF
− Vacancy
−$1.9K −$1.25/SF
EGI
$28.7K $19.15/SF
− OpEx
−$7.2K −$4.79/SF
NOI
$21.5K $14.36/SF
Area
Bend, OR
Vacancy
6.14%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,820
Cap Rate 7%
$307,729
Cap Rate 9%
$239,344
Alternative Uses
Best Use
Office B
$307.7K
$269.3K – $359.0K
NOI $21,541 @ 7.0% cap · market cap 5.74%
Second Best
Flex RnD
$291.8K
$255.4K – $340.5K
NOI $20,428 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$648.0K
$567.0K – $756.0K
NOI $45,360 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Steel construction, office buildout, and a dedicated rear yard support industrial operations.
Where is this flex space located?
The property is located at 62987 NE Plateau Drive #STE 4 Bend, OR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Leased industrial condo in North Brinson Business Park; Tenant occupancy for 8 years with additional renewal option periods; Fenced yard area located behind the unit
